Modern Wealth Management LLC Purchases 2,335 Shares of Starbucks Co. (NASDAQ:SBUX)

Modern Wealth Management LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,209 shares of the coffee company’s stock after purchasing an additional 2,335 shares during the quarter. Modern Wealth Management LLC’s holdings in Starbucks were worth $749,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter valued at $25,000. Collier Financial bought a new position in Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks during the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new stake in Starbucks during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.97 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock’s fifty day moving average price is $105.61 and its two-hundred day moving average price is $99.47. The company has a market cap of $111.28 billion, a P/E ratio of 31.60, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the business posted $0.90 EPS. On average, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.